...and a perfect call on the ES. Nicely done! Hope you two were in it...obviously I was too early and just assumed I arrived at the wrong home for the party.
The Super Terrific Happy Hour
- Thread starter Max E.
- Start date
Another good day for me,+2800
i was so confident this market was going to sell off after the rate hike, i got overly aggressive on ES the entry, ended up with 8 contracts, and it looked ugly when we were going through 2440, so unfortunately I cut that in half for like six hundred bucks, but then managed to hold the last 4 for close to 10 points.
I was actually in the process of buying contracts back when i rebought at like 1 ES at 2338, i bought one back but then when i saw it getting stuffed at 40, i added 4 more back.
It was a bit of a screw up to be sized in soo aggresively at the bottom, thats about the only thing i can say i did wrong on this one, the thought process was right and i crushed it.
Sweet trade.
This made up 90% of my day.
Now that im out though prepare for the market to make a fool out of me
i was so confident this market was going to sell off after the rate hike, i got overly aggressive on ES the entry, ended up with 8 contracts, and it looked ugly when we were going through 2440, so unfortunately I cut that in half for like six hundred bucks, but then managed to hold the last 4 for close to 10 points.
I was actually in the process of buying contracts back when i rebought at like 1 ES at 2338, i bought one back but then when i saw it getting stuffed at 40, i added 4 more back.
It was a bit of a screw up to be sized in soo aggresively at the bottom, thats about the only thing i can say i did wrong on this one, the thought process was right and i crushed it.
Sweet trade.
This made up 90% of my day.
Now that im out though prepare for the market to make a fool out of me
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You're going to have to get in line. This for my 2420-2410 put debit spread:Now that im out though prepare for the market to make a fool out of me
Sitting at 1.20-ish now, was over 1.40 a few mins ago, I think.
I like that idea, still think the market is headed much much lower, should have held my position but i took the money, but i really just cant possibly fathom how someone with money could get it in their heads that buying stock right now is a good idea, we have already had a ridiculous run, and there is nothing but more shit on the horizon for the market, Brexit is going to be a train wreck, Trump is on the verge of impeachment, the people in the euro zone are the same soccer watching pansies they have always been, Oh yeah, and rates and the dollar are going up.
Governments that have better things to do that regulate are good for the market (at least in the short term). Remember when congress was debating Bill Clinton getting his dick sucked?
I like that idea, still think the market is headed much much lower, should have held my position but i took the money, but i really just cant possibly fathom how someone with money could get it in their heads that buying stock right now is a good idea, we have already had a ridiculous run, and there is nothing but more shit on the horizon for the market, Brexit is going to be a train wreck, Trump is on the verge of impeachment, the people in the euro zone are the same soccer watching pansies they have always been, Oh yeah, and rates and the dollar are going up.
Wait what? I was too busy watching soccer.
I still want to read about the stats, not what nailing it means. You say they nail the market, does this mean that 80% of their trades are big winners? Does this mean that perhaps they have to enter a few time and scratch a few times before they nail the big winner? If you add up all those scratches, perhaps they don't have anywhere close to an 80% win. They may be better at holder longer than you, and they may be more able to immediately re-enter again after either getting stopped out, or exiting too soon, but I still highly doubt that they have a crystal ball and that practically every trade they touch is a huge winner. Also, although I have no idea how it works in your chat, perhaps they don't mention every time they scratch, or scale in, or scale out, etc. There are so many nuances here, and its those nuances that make the huge difference.
I think there is a big misunderstanding here. I was in no way putting lescor down. The point I was making was that in order to make 800k, he had 400k in losses. His total wins therefore would have been around 1.2m, minus the 400k lost. What I meant to illustrate with this is that even a season guy like lescor will rake up big losses, and more importantly, even these guys aren't hitting ratio's like 10:1, meaning for every dollar they lose, they make 10. I mean imagine starting the day out and being down 2k, which would totally suck, and cause a new trader to pack it in for the week perhaps. But if you know that this 2k loss is just one blip on the way to having a 5k day, then this means nothing.
I have the utmost respect for Lescor and very much appreciated being able to go through his posts and learn from them, and seeing real hard stats shared.
Holding a cheeky FB short overnight